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FINANCIAL STATEMENTS
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Contents
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Pages
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Officers and professional advisers
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1
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Strategic report
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2 to 3
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Directors' report
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4 to 5
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Independent auditor's report to the members
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6 to 8
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Statement of income and retained earnings
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9
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Statement of financial position
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10
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Statement of cash flows
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11
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Notes to the financial statements
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12 to 21
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OFFICERS AND PROFESSIONAL ADVISERS
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The board of directors
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Registered office
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Auditor
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Accountants & statutory auditor
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The Old Mill
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Blisworth Hill Farm
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Stoke Road
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Blisworth
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Northampton
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NN7 3DB
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Bankers
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44 High Street
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Daventry
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Northants
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NN11 4FZ
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STRATEGIC REPORT
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Director
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DIRECTORS' REPORT
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(Appointed
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(Resigned
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Director
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
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(Senior Statutory Auditor)
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For and on behalf of
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Accountants & statutory auditor
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The Old Mill
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Blisworth Hill Farm
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Stoke Road
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Blisworth
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Northampton
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NN7 3DB
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STATEMENT OF INCOME AND RETAINED EARNINGS
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2019
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2018
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Note
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£
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£
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Turnover
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4
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Cost of sales
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Gross profit
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Distribution costs
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Administrative expenses
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Other operating income
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5
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Operating profit
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6
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Interest payable and similar expenses
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10
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Profit before taxation
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Tax on profit
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11
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Profit for the financial year and total comprehensive income
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Dividends paid and payable
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12
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(
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–
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Retained earnings at the start of the year
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Retained earnings at the end of the year
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STATEMENT OF FINANCIAL POSITION
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2019
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2018
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Note
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£
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£
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£
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Tangible assets
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13
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Stocks
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14
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Debtors
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15
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Cash at bank and in hand
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Creditors: amounts falling due within one year
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17
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Net current assets
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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18
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–
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Taxation including deferred tax
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20
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Net assets
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Called up share capital
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24
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Profit and loss account
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25
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Shareholders funds
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Director
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STATEMENT OF CASH FLOWS
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2019
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2018
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Note
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£
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£
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Profit for the financial year
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Adjustments for:
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Depreciation of tangible assets
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Interest payable and similar expenses
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Tax on profit
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Accrued expenses/(income)
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(
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Changes in:
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Stocks
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(
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Trade and other debtors
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(
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Trade and other creditors
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(
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Cash generated from operations
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Interest paid
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(
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(
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Tax paid
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(
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(
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Net cash from operating activities
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Purchase of tangible assets
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(
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(
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Net cash used in investing activities
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(
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(
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Proceeds from loans from group undertakings
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(
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Payments of finance lease liabilities
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(
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(
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Dividends paid
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(
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–
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Net cash used in financing activities
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(
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(
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Net (decrease)/increase in cash and cash equivalents
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(
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Cash and cash equivalents at beginning of year
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469,788
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(467,770)
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Cash and cash equivalents at end of year
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16
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(
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NOTES TO THE FINANCIAL STATEMENTS
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Long Leasehold Property
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-
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Plant and Machinery
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-
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Fixtures and Fittings
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-
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10% - 20% Straight line
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Motor vehicles
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-
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2019
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2018
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£
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£
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Sale of goods
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2019
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2018
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£
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£
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United Kingdom
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Overseas sales - Europe
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2019
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2018
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£
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£
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Other operating income
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--------
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2019
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2018
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£
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£
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Depreciation of tangible assets
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Impairment of trade debtors
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31,358
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5,328
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--------
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2019
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2018
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£
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£
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Fees payable for the audit of the financial statements
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-------
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2019
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2018
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No.
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No.
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Production staff
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Number of sales and administrative staff
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----
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----
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----
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----
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2019
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2018
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£
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£
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Wages and salaries
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Social security costs
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Other pension costs
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---------
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2019
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2018
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£
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£
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Remuneration
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--------
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2019
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2018
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No.
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No.
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Defined contribution plans
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----
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----
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2019
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2018
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£
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£
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Interest on banks loans and overdrafts
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Interest on obligations under finance leases and hire purchase contracts
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Other interest payable and similar charges
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–
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2019
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2018
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£
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£
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UK current tax expense
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Adjustments in respect of prior periods
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(
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Total current tax
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Origination and reversal of timing differences
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(
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(
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Tax on profit
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2019
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2018
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£
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£
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Profit on ordinary activities before taxation
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---------
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Profit on ordinary activities by rate of tax
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Adjustment to tax charge in respect of prior periods
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(
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Effect of expenses not deductible for tax purposes
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Effect of capital allowances and depreciation
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Movement in deferred taxation
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(
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(
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---------
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Tax on profit
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---------
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2019
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2018
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£
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£
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Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
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–
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------------
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----
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Long leasehold property
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Plant and machinery
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Fixtures and fittings
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Motor vehicles
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Total
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£
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£
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£
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£
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£
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Cost
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At 1 January 2019
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Additions
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–
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–
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Disposals
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–
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(
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(
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–
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(
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---------
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At 31 December 2019
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---------
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Depreciation
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At 1 January 2019
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Charge for the year
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Disposals
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–
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(
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(
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–
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(
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---------
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At 31 December 2019
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---------
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Carrying amount
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At 31 December 2019
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---------
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At 31 December 2018
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---------
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Motor vehicles
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£
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At 31 December 2019
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--------
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At 31 December 2018
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--------
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2019
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2018
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£
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£
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Raw materials and consumables
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------------
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2019
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2018
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£
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£
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Trade debtors
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Amounts owed by group undertakings
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Prepayments and accrued income
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Derivative financial assets
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Other debtors
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–
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------------
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------------
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2019
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2018
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£
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£
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Cash at bank and in hand
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Bank overdrafts
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(
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–
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---------
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---------
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(
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---------
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2019
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2018
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£
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£
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Bank loans and overdrafts
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–
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Trade creditors
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Amounts owed to group undertakings
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Accruals and deferred income
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Corporation tax
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Social security and other taxes
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Obligations under finance leases and hire purchase contracts
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Derivative financial liability
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Other creditors
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------------
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------------
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------------
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2019
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2018
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£
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£
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Obligations under finance leases and hire purchase contracts
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–
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----
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-------
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2019
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2018
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£
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£
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Not later than 1 year
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Later than 1 year and not later than 5 years
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–
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-------
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--------
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-------
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--------
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Deferred tax (note 21)
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£
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At 1 January 2019
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Charge against provision
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(
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--------
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At 31 December 2019
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--------
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2019
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2018
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£
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£
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Included in provisions (note 20)
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--------
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--------
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2019
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2018
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£
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£
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Accelerated capital allowances
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--------
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--------
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2019
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2018
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£
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£
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Financial assets measured at fair value through profit or loss
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297,916
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750,000
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Financial liabilities measured at fair value through profit or loss
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297,916
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750,000
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2019
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2018
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No.
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£
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No.
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£
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400,000
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400,000
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---------
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At 1 Jan 2019
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Cash flows
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At 31 Dec 2019
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£
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£
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£
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Cash at bank and in hand
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(341,215)
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Bank overdrafts
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–
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(446,591)
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(446,591)
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Debt due within one year
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(659,019)
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(93,366)
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(752,385)
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Debt due after one year
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(8,320)
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8,320
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–
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---------
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---------
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------------
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(
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(
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(
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---------
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2019
|
2018
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£
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£
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Not later than 1 year
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Later than 1 year and not later than 5 years
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---------
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---------
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NOTES TO THE FINANCIAL STATEMENTS (continued)
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Transaction value
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Balance owed by/(owed to)
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|||
2019
|
2018
|
2019
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2018
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£
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£
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£
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£
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(
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–
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–
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7,786,002
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------------
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------------
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---------
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---------
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